Sep 24, 2026 · 7 min
Asian stocks weigh AI doubts, dollar strength and copper risk
Lenovo Falls, BHP Down, Daiichi Dips
The episode connects technology, currency and commodity moves to a broader shift in expectations for China, Japan and global markets.
- 1Chinese hardware stocks face pressure as investors question China’s position in artificial intelligence and software profitability remains weak.
- 2A stronger dollar and higher yields weigh on gold, copper and Australian commodity-linked assets across Asian markets.
- 3BHP suspends Escondida operations after a fatal accident while yen weakness raises the prospect of further Japanese intervention.
Don't miss
The report’s most consequential turn is the collision between broad copper weakness and BHP’s suspension of Escondida operations after a fatal accident.
The brief
Chinese technology stocks come under pressure as investors question whether China is falling behind the United States in artificial intelligence, with Lenovo among the hardware names in focus.
Hardware companies have benefited from supplying the AI ecosystem, but software companies still struggle to show profitability as advancing U.S. models raise the competitive bar.
Strong U.S. economic data, rising yields and a potentially stronger dollar weigh on gold, copper and commodity-linked assets in Asia, especially Australia.
BHP suspends operations at Chile’s Escondida copper mine after a fatal accident, adding a company-specific shock to broader weakness in copper-related markets.
The hosts weigh possible Japanese intervention against yen weakness, then examine Anthropic’s early-stage gene-discovery report and its uncertain path to commercial use.
What was said on this episode
11 statements · 5 positive · 6 negative
Chinese hardware companies are profiting by supplying Chinese AI models
“China's hardware names have been making a lot of money supplying the AI supply chain to these Chinese LLMs”
Listen at 1:11
U.S. AI models continue widening their lead across frontier and smaller models
“the AI models from the US continue to pull ahead on both sides of the spectrum”
Listen at 1:21
Advancing U.S. AI models are pressuring the Chinext index
“that's pressuring the Chinext index”
Listen at 1:36
Lenovo shares are down 2.6%
“Lenovo is down 2.6%”
Listen at 1:42
The U.S. economy is currently running very hot
“The US economy is obviously running very hot”
Listen at 2:12
The dollar may break above its recent trading range
“This move is looking to threaten to break out of that range on the upside”
Listen at 2:21
Copper is under pressure from dollar strength
“copper is also under pressure here”
Listen at 2:29
BHP shares are down 1.7%
“BHP is down 1.7%”
Listen at 2:39
Australian rare-earth assets are experiencing a sell-off
“there is a little bit of a sell-off in the rare earth space in Australia”
Listen at 2:55
Anthropic could potentially solve biomedical problems within days
“what is the value of an innovative drug maker if Anthropic can just be let loose on a problem and probably solve it in a couple of days?”
Listen at 4:09
Daiichi Sankyo shares are down 2.5%
“Daiichi Sankyo in Japan is down 2.5%”
Listen at 4:21
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.
Featuring
Anthony Stevens
United States
Bloomberg L.P.Books & mentions
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